New tax breaks for adoption expenses

Article Abstract:

A discussion of the tax incentives for employer-provided adoption assistance benefits is presented. Employees are granted up to $5,000 of exclusions from their income for payments received under their employer's adoption assistance program, with the exclusion valid for payments with respect to qualified adoption expenses such as reasonable adoption fees, attorney fees and other expenses related to the adoption. The exclusion also only works for higher-incomed employees, those with modified adjusted gross incomes amounting to over $75,000.

Employee Benefits & Services, Methods, Finance, Human resource management, Compensation management, Adoption

---

New comparability - a new concept in profit sharing plan design

Article Abstract:

The 'New Comparability' profit sharing plan provides maximum benefits to key employees without violating the IRS's nondiscrimination policy. It works like a defined benefit plan without the disadvantages by invoking 'cross testing' provisions of the IRS nondiscrimination rules. The cross testing scheme benefits older employees due to compound interest. A 401(k) feature added to the plan will also allow rank-and-file employees to contribute on a tax-advantaged basis.

Innovations, Laws, regulations and rules, United States. Internal Revenue Service, Profit sharing

---

Similar abstracts:

• Abstracts: Nuances of the Treasury Stock Method: stock option expensing and the impact of compensation costs on diluted earnings per share
• Abstracts: A new era in benefits management. Reducing the cost of disability benefits. Communicating bad news in benefits
• Abstracts: ALTA position regarding revised RESPA regulations. Bayard Waterbury - ALTA's recruiting champion
• Abstracts: Self-funded health insurance for small employers. Insurance fraud in America: a growing problem for everyone. Managed prescription programs: integrating retail and mail order services
• Abstracts: The growth in health care plans offering choice. New guidance clarifies 409A's application to separation pay arrangements

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.